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America Saves Week: State Department Federal Credit Union has resources for everyone
As part of America Saves Week, NAFCU is highlighting the efforts of member credit unions with strong financial education programs that encourage members to save and strengthen their personal finances. Today, learn how State Department Federal Credit Union's (Alexandria, Va.) financial planning and savings initiatives help educate members through all stages of life.
SDFCU’s website has a webpage dedicated to financial planning that features accessible links to their free seminars and webinars, resources like free credit monitoring through a partnership with SavvyMoney, and information on financial counseling through a partnership with BALANCE Financial Fitness Program. SDFCU also has an active social media presence, providing followers with relevant information and resources on savings, budgeting, and more.
The credit union also starts financial education early with a youth savings program in partnership with Coindexter: The Coindexter Club. The interactive youth financial education program teaches children how to earn, save, spend, manage, and invest money, while learning about concepts like personal banking, investment basics, foreign currency symbols, and more.
Club members receive a savings passbook, colorful newsletters by mail, and more. With their parents' permission, children can also explore the fun games and activities that the virtual world of Econopolis – an entertaining and digital learning environment – has to offer.
NAFCU has pledged to promote financial literacy and ensure credit unions' members can reach their financial goals by working closely with credit unions, lawmakers and regulators. See NAFCU's resources. Many credit unions offer services to help members reach their financial goals (see how Summit Credit Union and Franklin Mint Federal Credit Union are also promoting financial literacy); NCUA has resources available to both credit unions and members and the CFPB has additional consumer financial literacy resources available.
The America Saves Week program features a specific theme each day that aims to drive social conversations and public awareness. Today's theme is "Save to Retire"; engage in the conversation with #Save4Retirement, #MySSA, and #ASW2020.